Why is my mortgage payment contribution less than I thought?

We have been advised by the Department for Work and Pensions (DWP) that there will be a reduction in the interest rate used to calculate the amount the DWP will pay towards mortgage payments. This means the DWP contribution to your monthly mortgage payments will be reduced. You should have received a letter from the DWP outlining how this will affect the level of payment they make towards your monthly mortgage interest.

What this means for you

The change is effective from 6th July. It is your responsibility to make sure that the difference between the DWP contribution and the required monthly mortgage payment is paid.

We are here to help so if you have any concerns about paying your mortgage, or want to discuss this further, please contact us.